Accounting

Accounting News & Professional Insight

Accounting Today delivers news, rankings, thought leadership, and analysis for accounting professionals so they can navigate change in standards, firm strategy, technology adoption, talent, and the overall business environment.

Accounting professionals are facing rapid transformation, including shifting professional standards, demographic change, technology disruption, practice consolidation, and changing expectations for advisory services. Our coverage surfaces these strategic dynamics and provides insights and analysis for firms, leaders, and the accounting profession.

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SEC Begins XBRL Mandate for First 500 Companies

The Securities and Exchange Commission has begun requiring 500 of the largest companies to start filing their financial statements in an interactive data format.

February 11
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SEC Chair Wants to Beef up Enforcement

Securities and Exchange Commission Chairman Mary Schapiro announced plans to make it easier for SEC staff to bring enforcement actions and indicated that the Financial Accounting Standards Board would further modify fair value accounting standards.

February 9
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KPMG Manager Joins SEC Chief Accountant Office

The Securities and Exchange Commission has appointed Robert Malhotra as a senior advisor in the SEC’s Office of the Chief Accountant.

February 9
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Madoff Reaches Partial Settlement with SEC

The Securities and Exchange Commission said that Bernard Madoff has consented to a proposed partial judgment imposing a permanent injunction on him.

February 9
Regulatory actions and programs

Global Alliance Aims for Simplified Reporting

A global alliance of the chief executives of 10 accounting institutes has issued a report advocating more useful and less complicated financial reporting requirements.

February 6
Regulatory actions and programs

COSO Issues Internal Control Guidance

New guidance aims to help organizations better monitor the effectiveness of their internal control systems.

February 4
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Like-Kind Exchanges Are Still a Good Strategy

Even with the current downturn in the real estate market, like-kind exchanges continue to be a popular way to dispose of property while deferring the taxable gain.

February 3

Resources

The latest Accounting Today research and discussion:

Predicting the next 15 years in accounting

Take a look at what the accountant and the accounting firm of the future will look like with AICPA chief Mark Koziel.

Sponsored by BILL
The changing world of government financial reporting

The serious new pressures facing governments of all sizes are changing their financial reporting, says GASB Chair Joel Black.

Sponsored by Intuit Quickbooks
Special Report Technology and CAS

Handling the compliance work that is the foundation of modern CAS while also creating time and insights for the advisory overlay that really drives its value to clients requires the careful deployment of a suite of technology tools — and that suite is constantly evolving, meaning accountants need a strategy to keep up.

Sponsored by Canopy

Accounting: Key Questions & Analysis

What are the key trends and strategies emerging from accounting industry leaders?

Top leaders are focused on structural challenges facing firms, including succession planning, evolving service mix, and long-term sustainability of traditional models.

How are accounting firms positioning themselves for the profession’s next phase?

Firm leaders are redefining and evaluating their strategy for growth. This includes investing in people and systems as well as rethinking how firms deliver value to address changing client needs and competition.

What role does professional identity play as accounting continues to change?

Debate continues over how accounting defines itself. This is due to accounting expanding into advisory, consulting, and technology-enabled services. These changes can raise questions about standards, training, and long-term credibility.

How are accounting firms managing leadership and succession risk?

Demographic shifts are accelerating in accounting. This means more firms are confronting leadership transitions and ownership succession which can create critical strategic risks that influence growth, culture, and valuation.